Snowflake Inc. (NYSE:SNOW) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-eight ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and twenty-seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $187.11.

A number of brokerages have commented on SNOW. KeyCorp upped their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Mizuho increased their price target on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Royal Bank of Canada lifted their price objective on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st.

Snowflake Trading Up 1.5 %

SNOW opened at $161.16 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50 day moving average price is $154.55 and its 200-day moving average price is $133.42. Snowflake has a one year low of $107.13 and a one year high of $237.72. The stock has a market cap of $53.20 billion, a price-to-earnings ratio of -47.54 and a beta of 1.05.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at $4,667,476.32. The trade was a 6.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,904 shares of company stock valued at $62,545,855. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Groupama Asset Managment purchased a new stake in Snowflake in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC purchased a new stake in Snowflake during the third quarter worth $34,000. Larson Financial Group LLC grew its position in Snowflake by 81.3% during the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after buying an additional 152 shares during the period. Finally, Waldron Private Wealth LLC purchased a new position in Snowflake in the third quarter valued at $40,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.